a) (4 pts) Given the following Sales Forecasts, what is the expected cash inflow for May and June? Historically, 70% of the purchasers pay in the same month, 25% pay the following month, and 7% pay the second month after purchase. These 2 month late payers are assessed a 5% late fee. March April May June July Sales 100K 90K 110K 80K 70K Cash b) (8 pts) Using the same sales forecast, what should be the budgeted amount needed for purchases for May and June? The Cost of Goods Sold (COGS) percentage is 65% of sales. The desired end of month inventory is $25K plus 60% of the next month's COGS. Fill in the blanks. April Mar 100K May 110K June 80K July 70K Sales 90K COGS Ending Inventory 67.9K Total $ Needed Starting Inventory Purchases